New York – Nigerian President Bola Tinubu on Monday urged South African firms to invest in Nigeria’s solid minerals sector.
In a bilateral meeting with South African President Cyril Ramaphosa, Tinubu said that Nigeria has great mineral wealth and that South African companies have the expertise to help develop the sector.
“We expect to deliver jobs and mutually beneficial results in this area as brother and sister countries,” Tinubu said.
Ramaphosa agreed that the two countries have much to offer each other and that there is great potential for economic cooperation.
“We are two major economies on our continent, and it is important that we deepen economic ties, particularly in light of the African Continental Free Trade Agreement,” Ramaphosa said.
The two leaders also discussed other issues of mutual interest, including the need to reform international financial institutions and to strengthen economic resilience in developing democracies.
Tinubu said that Africa must have a consensus view that the hundreds of billions of dollars spent through International Development Finance Institutions over the years must meet the specific needs of developing democracies in Africa.
“We have all the human and natural resources required between our nations,” Tinubu said. “We can collaborate in a mutually beneficial way that enriches our populations.”
President Bola Tinubu @officialABAT has on Monday advanced his economic development diplomatic drive for investment attraction as he engaged extensively in a bilateral discussion with South African President, Cyril Ramaphosa @CyrilRamaphosa, in New York City, ahead of the United… pic.twitter.com/HJr3ijAgar
— Presidency Nigeria (@NGRPresident) September 18, 2023
Ramaphosa agreed that Africa needs to be more assertive in its dealings with the international community.
“We must seek out partners who will help us to advance our own interests,” Ramaphosa said.
The two leaders also discussed the need to deepen economic ties between Nigeria and South Africa. Ramaphosa invited Tinubu to visit South Africa, and Tinubu accepted the invitation.
“Our continent is the last untapped ground for accelerated, massive growth and new economic opportunity on earth,” Tinubu said. “We must be in charge of our own resources, and we must work to use each other effectively to achieve what is best for all of us.”
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